The Finance Department of the City of Columbia is led by Finance Director Patti Amorello.
With a total staff of five, the Finance Department is responsible for the City’s payroll, purchasing, accounts payable and fixed asset management. Additionally, the Finance Director coordinates the annual audit and preparation of the Comprehensive Annual Financial Report (CAFR) and serves a primary role in budget preparation.
Milestones in the Finance Department over the past 15 years include the development and enhancement of the City website, implementation of a direct deposit program for City employees, consolidation of City operating accounts via a banking services contract, development of a fixed asset management system and implementation of a document imaging program for Finance Department documents. Most documents are now scanned, reducing the volume of paper requiring archiving/storage. In 2003, the City transitioned to automated employee time-keeping and contracted with ADP for processing of employee payroll.
The City’s budget document, Strategic Plan and Comprehensive Annual Financial Report are available on the website for public viewing.
- FY 2010-11 Budget
- FY 2011-12 Budget
- FY 2012-13 Budget
- Comprehensive Annual Financial Report-Fiscal Year Ending June 30, 2010
- Comprehensive Annual Financial Report-Fiscal Year Ending June 30, 2011
- Comprehensive Annual Financial Report-Fiscal Year Ending June 30, 2012
In 1999, the City’s A2 bond rating was raised to A1 by Moody’s Investors Service. The rating was amended to Aa2 in 2010 when Moody’s recalibrated ratings of municipal bond issues and issuers to its global rating scale. That Aa2 rating was affirmed in June 2011 when the City issued $7 million in Sewer System Revenue and Tax Bonds. The rating was affirmed based on the City’s solid financial position, stable tax base (with above-average unemployment) and manageable debt burden. The City of Columbia understands and values the importance of managing the City’s finances in a fiscally responsible manner, providing for essential needs and maintaining a stable financial footing. The Aa2 rating both makes the City’s bonds attractive to investors and enables the City to borrow money at favorable interest rates.
Assistant Finance Director Danny King serves as the City’s Purchasing Agent and has been instrumental in establishing a comprehensive fixed asset database and a citywide procurement card program. The City lists surplus assets available for purchase on-line at www.govdeals.com.
The Government Finance Officers Association of the United States and Canada (GFOA) has awarded Certificates of Achievement for Excellence in Financial Reporting to the City of Columbia for its Comprehensive Annual Financial Reports (CAFR) for the fiscal years ended June 30, 1999 through June 30, 2011. The Certificate of Achievement is a prestigious award recognizing conformance with the highest standards for preparation of state and local government financial reports.
The Finance Department and City Recorder’s Office work together to ensure both proper management of City funds and the timely and accurate reporting of the City’s financial position.